Crypto news

Will Bitcoin Keep Climbing or Crash and Burn? The Truth Unveiled!

BBG News

Oh, Bitcoin. That mysterious digital gold that everyone claims will make you rich overnight. Recently, it hit a blazing high of $111,970, sparking more excitement than when your Wi-Fi finally connects in the basement. But don’t get too carried away—analysts are still playing the suspense game, wondering if this is just a sparkle or the start of a new crypto gold rush.

“The coming weeks will likely determine whether Bitcoinʼs latest breakout was a local high or the prelude to a more aggressive leg higher in Q3,” said the wise folks at Bitfinex, who clearly have no idea either. Just like predicting next week’s weather, but with more spreadsheets and less accuracy. 🌤️

Consolidation or mild retracement may “be healthy”

On May 22, Bitcoin soared to a record-breaking $111,970. After all, what better time to hit a new high than when everyone’s distracted by TikTok? According to experts, though, riding the wave upward isn’t a guarantee. Sometimes, the best move is to take a gentle step back—like a yoga pose—allowing for a “healthy” pause before trying to jump higher. Think of it as Bitcoin’s version of a deep breath before launching into space. 🚀

It’s actually common for Bitcoin to chill out after reaching these dizzying heights. Remember March 2024, when it hit $73,679? It then meandered within a $20,000 range until, surprise! The US elections. Naturally, markets are just like teenagers—moody and unpredictable.

Historical data shows that the third quarter has been about as welcoming as a prickly cactus—since 2013, it has been the worst quarter for Bitcoin, returning a meager 6.03%. Meanwhile, Q2 happily lumbers along with a more generous 27.25%. Who knew? 🧐

Right now, Bitcoin seems to be in a “short-term range-bound phase,” which is just a fancy way of saying “it’s taking a nap.” Many short-term holders—those holding for less than 155 days—have been cashing out, raking in profits that Andrew would envy: over $11.4 billion in the last month alone. They’re sitting on an average profit of 13.72%, which sounds impressive until you realize it’s just a fancy way to say, “I sold before it dropped again.”

Interestingly, despite all this chatting, the short-term price for Bitcoin hovers around $95,781—while the actual trading price is at $108,929. In other words, traders are sitting pretty, waiting for the next big move, like cats watching a laser pointer. 🐱

According to the market sages, Bitcoin’s ETF “bid strength,” low volatility, and the spot premium are signs of a market maturing faster than you can say “FOMO.” Once macroeconomic clarity arrives—like that one friend who finally shows up at your party—things might really get wild. Last week, roughly $2.75 billion flowed into spot Bitcoin ETFs. That’s enough to buy a small country or at least a really fancy coffee machine.

All eyes are now on the Federal Reserve, which will decide on interest rates on June 18. Will they raise, lower, or just stare at their screens until everyone gives up and goes home? Honestly, with rates steady at around 4.25–4.50%, it’s more suspense than a season finale of your favorite binge-ready series.

Back in March, some crypto prophets like Swan Bitcoin’s Cory Klippsten predicted a new high before June—50/50 shot. Real Vision’s Jamie Coutts, the soothsayer of crypto, even guessed Bitcoin might hit “new all-time highs before Q2 is out.” So basically, everyone’s guessing while hoping they’re right—like betting on a coin flip, but with more jargon and fewer rewards.

Read More

2025-05-28 06:23

Previous post Paris Cracks Down on Crypto Kidnapping Ring, Arrests 12
Next post Sleep Like a Titan With Nanga’s Upcoming ‘Attack on Titan’ Sleeping Bag